Especially in the mining sector I find it helpful to see where managers invest a lot of their own money into the company. Sometimes I get ideas that I wouldnt have found otherwise. I want to introduce stocks here regularly and invite you to do the same. In the focus for me is Cluster Buying. Where only once an insider buys it doesnt tells much. Lets start: At Mungana Goldmines recently four directors bought shares. Company market cap is roughlty AUD 100 Mio. Now the share price is AUD 0.65 near a 52 week low of AUD 0.64. Here some infos about recently published Insider buying: Patrick Scott bought at the stock market 7857 shares for each AUD 0.67 (June 24). He bought before: 13135 shares for each AUD 0.75 and 18593 for AUD 0.69. Each time in March. Mark McConnell bought 15000 for AUD 0.65 (June 20) und 36000 (May) for each AUD 0.76. All open market buys. Directors Ross Hutton (35000) and Bruce Rathe (5000) bought, too. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01192075 http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01192026 and so on To check it yourself http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=MUX Comrads in Golden Arms, tomorrow the next share!
Thank you, hobo-jo! Here is a Canada share that I liked because of the insider buying pattern. But I dont have it. How is this thing called I lack... ah... yeah... money..... Victoria Gold, market cap CAD 186 Mio, price CAD 0.67, 52 week high at 1.55, low at 0.58 Insider buying is quite much. Managers and Directors bought this year 715.500 shares on the open market Officer John McConnell bought shares on Feb9, Feb2, May9, May 31and June 16. All in all 231 500 shares for CAD 0.63 until 0.87. Hugh Agro bought on Feb10, May19, May20 and June 16 this amounts of stock on the open market: 3000, 30500, 66500, 12000, 63000, 25000, 47500, 27500, 24500, 25,500, 10000 and 40000 shares at CAD 0.83 until 0.63. Chad Williams, Marty Rendall and John Goyman bought too as Sedi shows. Next time more, comrads in golden arms
I'll have a look.... unfortunately the purse...:/ Anway, finally its Friday. As I hope for still a little more good weather, here a new stock that looks interesting to me because people here buy like crazy. Or greedy, so to speak. Teranga Gold. Market cap CAD 630 Mill., 52 Day low and high at CAD 2.19 and CAD3, now price is 2.55 Its about Senegal, gold quite near surface 5,6 meters wide. But this you have to look at. I just wanna mention the insider greed that is as follows: Oliver Lennox-King bought 200,000 shares on the open market for CAD 2.50 each on June 21, 2011 and 200,000 for 2.25 on May 17. Then Alan Hill bough on May 17 180,000 shares for each CAD2.24 and 40.000 n May 13 for 2.25. Also Catherine Sipos and Richard Young bought. All the insiders bought 857,900 shares for each CAD 2.23 until 2.50. Not bad, I think. Next time hopefully a new one. Thanks Hobo. If somebody somebody else has another interesting one, I would be happy, if he (or she) shares. Stay tuned! p.s. dccpa: I just introduce shares here were I think the buying pattern is remarkable. About the fundamental things better look at some discussions about the stock. there im not competent.
Hey topaz, like the idea. I always get to wondering if, and maybe I'm overthinking this, if the managers are only investing to make the shares look more attractive and maybe get people over the line on buying who are watching the stock and waiting for a buy signal/bottom. What do you think?
Cheasapeake Energy shareholders have learned that the hard way twice. CEO (Aubrey McLendon) would buy shares in 100,000 lots on the open market and tout how much he believed in Cheasapeake. He was buying on margin and got wiped out twice. Both times, the board voted to pay him the market losses. What a sleazebag. A question for me is whether the officer buying stock has a good track record both for buying stock and for timing his buys. I actually prefer it when that officer also sells some shares after a run up. That tells me the officer has a good understanding of the value of the company. Another issue is how much did the officer buy. Rob McEwen bought into three gold companies and purchased 20-33% of each company at market value. The investments were in the tens of millions. He takes no salary for running the companies and turned Goldcorp into one of the world's largest gold companies. GORO Gold Resource Corporation (the Reid brothers) is another good example of successful past experience and significant investment. When you can find that rare combination of successful experience and significant investment, you can be confident that you have the odds in your favor. Even though I purchased most of my Goro shares at $3.45, I did add more last week on the drop down below $22.
For me the question would be how liquid the stock is and how much money you would have to invest to push the stock. But when I see a number of managers and directors putting their money in the stock for maybe 100.000 dollars or more, or frequently for 10.000 amounts then I suppose the know something that give them the expectation of making money. When the stock then tumbles they lost money. And I think many exploration managers have a wife who would not appreciate ...
Here some further one, an explorer working in Ghana. Again small. Pelangio Exploration, a market cap of app. CAD 78 Mio., the 52 week share high and low range is 0.19 until 1.31, now the price is around cad 0.60. The fundamentals you have to check and judge yourself. I just liked the buying pattern, but as the others dont have the stock. My wallet is angry one me and I am on my wallet. Insider buying i find nice, even though it is not spectacular: David Vaughn MosAnother insider buying cluster:her bought 79,000 shares on open market on june 21 for cad0.54 until 0.57 Then Ingrid Hibbard bought 50000 shares at 0.50 (jun16) and Paul Rockeby bought 10,000 shares for cad0.61 (jun8). Keep on suggesting others, the next month is starting soon and then my account will heal again....
Here I found some time again to spend in front of the computer, so heres again a share I found interesting when I saw funds liked it. This time only one director among buyers. Anyway. Its Azumah Resources, an Australian company with a market cap of aud 160 mio. Now the share trades at aud 0.57 with the 52 week high at 0.82 and the low at 0.37. This was the boring stuff. Now the buying. Norges Bank (the central bank of norway) bought at july 28, 2011 on the open market altogether 2.5 mio shares at 0.57. Check it yourself. http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01203117 Passport Capital took also on the open market 228,000 shares at aud 0.57, same date. Also same date Blackwell Partner bought 144,900 for same price. Director Michael Atkins bought 100,000 shares for 0.55 a share (june 22, 2o11). Same date: Passport Capital bought 3.62 Mio shares for 0.55 each. Than Macquarie bought 5.02 mio shares at aud 0.60. Dundee Corp bought 3.7 mio shares at 0.65 on jan 12, 2011. Last year they bought 16,7 mio shares at 0.73. In October Libra Advisors bought more than 4 Mill. Shares at aud 0.60. Enough typed. Next time I will bring again a stock with more manager buying. Instead of funds. Cul8r
